Norges Bank Portfolio holdings
Norges Bank, established in 1816 and headquartered in Oslo, Norway, serves as the central bank of Norway, responsible for monetary policy, issuing the Norwegian krone, and maintaining financial stability. Beyond its traditional central banking role, it oversees the management of the Government Pension Fund Global (often called the Norwegian Oil Fund), one of the world’s largest sovereign wealth funds, valued at over $1 trillion, which invests Norway’s oil and gas revenues in global equities, bonds, and real estate. The fund’s investment arm, Norges Bank Investment Management (NBIM), operates independently to ensure long-term wealth preservation for future generations, emphasizing sustainable and ethical investing practices. With its dual role, Norges Bank uniquely blends central banking duties with stewardship of a massive global investment portfolio.
Top Buys
| Rank | Stock | Value |
|---|---|---|
| 1 |
Walt Disney
DIS
|
+$382M |
| 2 |
Alibaba
BABA
|
+$346M |
| 3 |
Meta Platforms (Facebook)
META
|
+$240M |
| 4 |
Citigroup
C
|
+$223M |
| 5 |
Procter & Gamble
PG
|
+$194M |
Top Sells
| Rank | Stock | Value |
|---|---|---|
| 1 |
TFCF
Twenty-First Century Fox, Inc. Class B
TFCF
|
+$631M |
| 2 |
Linde
LIN
|
+$310M |
| 3 |
Alcoa
AA
|
+$208M |
| 4 |
Blackrock
BLK
|
+$158M |
| 5 |
Oracle
ORCL
|
+$157M |
Sector Composition
| Rank | Sector | Weight |
|---|---|---|
| 1 | Technology | 17.87% |
| 2 | Financials | 16.34% |
| 3 | Healthcare | 13.72% |
| 4 | Consumer Discretionary | 11.63% |
| 5 | Communication Services | 9.67% |
| Name | Market Value | Portfolio Weight | Shares or Principal |
Change in Stake | Capital Flow | |
|---|---|---|---|---|---|---|
|
DLPH
1176
DELISTED
Delphi Technologies PLC Ordinary Shares
DLPH
| $31.7M | 0.01% |
1,647,135
-239,912
| -13% | -$4.44M |
|
|
TMHC
1177
DELISTED
Taylor Morrison
TMHC
| $31.7M | 0.01% |
1,786,885
-162,359
| -8% | -$2.9M |
|
|
AVNS
1178
DELISTED
Avanos Medical
AVNS
| $31.7M | 0.01% |
742,430
| – | – |
|
|
ICPT
1179
DELISTED
Intercept Pharmaceuticals, Inc.
ICPT
| $31.5M | 0.01% |
282,045
| – | – |
|
1180
Forward Air
FWRD
$444M
| $31.5M | 0.01% |
487,016
| – | – |
|
1181
LXP Industrial Trust
LXP
$3.57B
| $31.4M | 0.01% |
694,022
+110,000
| +19% | +$5.02M |
|
1182
UMB Financial
UMBF
$11.1B
| $31.4M | 0.01% |
490,680
| – | – |
|
1183
Choice Hotels
CHH
$5.07B
| $31.4M | 0.01% |
404,048
-55,341
| -12% | -$4.3M |
|
|
PRMW
1184
DELISTED
Primo Water Corporation
PRMW
| $31.4M | 0.01% |
2,147,159
-86,971
| -4% | -$1.31M |
|
1185
Zillow
ZG
$7.94B
| $31.3M | 0.01% |
914,858
| – | – |
|
|
GTLS
1186
DELISTED
Chart Industries
GTLS
| $31.2M | 0.01% |
344,874
| – | – |
|
|
CSGS
1187
DELISTED
CSG Systems International
CSGS
| $31.1M | 0.01% |
735,927
| – | – |
|
1188
Terreno Realty
TRNO
$7.57B
| $31.1M | 0.01% |
739,810
| – | – |
|
1189
Simpson Manufacturing
SSD
$7.72B
| $30.9M | 0.01% |
521,652
+33,788
| +7% | +$2M |
|
1190
Trinity Industries
TRN
$2.49B
| $30.9M | 0.01% |
1,421,459
| – | – |
|
1191
Zurn Elkay Water Solutions
ZWS
$8.38B
| $30.9M | 0.01% |
2,549,480
+178,644
| +8% | +$2.22M |
|
1192
BHP
BHP
$215B
| $30.9M | 0.01% |
633,049
-106,125
| -14% | -$4.84M |
|
|
BLD
1193
DELISTED
TopBuild
BLD
| $30.9M | 0.01% |
476,202
+20,354
| +4% | +$1.15M |
|
1194
WaFd
WAFD
$2.72B
| $30.8M | 0.01% |
1,067,617
| – | – |
|
1195
Vishay Intertechnology
VSH
$5.25B
| $30.7M | 0.01% |
1,663,178
| – | – |
|
|
GOOS
1196
Canada Goose Holdings
GOOS
$872M
| $30.6M | 0.01% |
636,089
+423,910
| +200% | +$21.6M |
|
1197
Ultragenyx Pharmaceutical
RARE
$2.45B
| $30.6M | 0.01% |
440,507
+71,429
| +19% | +$4.08M |
|
1198
Roku
ROKU
$21.5B
| $30.5M | 0.01% |
472,494
| – | – |
|
|
ARNA
1199
DELISTED
Arena Pharmaceuticals Inc
ARNA
| $30.5M | 0.01% |
679,550
+130,806
| +24% | +$6M |
|
|
CNH
1200
CNH Industrial
CNH
$12.7B
| $30.4M | 0.01% |
3,435,950
-1,768,821
| -34% | -$15.8M |
|
Similar funds
Norges Bank's Q1 2019 Portfolio in Review
As of Q1 2019, Norges Bank held 2,169 positions worth $310B, up 15% from $269B the previous quarter. Its ten largest holdings account for 17% of the portfolio.
Trading was light in Q1 2019: portfolio turnover was 4.1%. Norges Bank opened 45 new positions and exited 43, leaving the 2,169-position portfolio largely intact.
By sector, the portfolio is most concentrated in Technology at 18% of assets, up from 17% a quarter earlier, followed by Financials and Healthcare.
- Norges Bank's largest Q1 2019 buy was Fox Class B: 4,938,483 shares worth $177M.
- Norges Bank added most to Walt Disney in Q1 2019, an estimated $382M increase.
- Norges Bank's biggest Q1 2019 reduction was Linde, cutting an estimated $310M.
- Norges Bank fully exited Twenty-First Century Fox, Inc. Class B in Q1 2019, selling an estimated $631M.
- Norges Bank's ten largest holdings make up 17% of its $310B portfolio in Q1 2019.
- Norges Bank opened 45 new positions and closed 43 in Q1 2019.
- Norges Bank's portfolio value rose 15% quarter-over-quarter to $310B.
Based on Norges Bank's 13F filing for Q1 2019, filed 9 May 2019.